88 Types of Turbulence That Can Be Encountered in Your Real Estate Transaction

Every real estate transaction is a sophisticated and complicated financial maze that, if not managed properly, will crash and burn. Much like an airline pilot, your realtor must understand and anticipate the potential pitfalls that could keep you from reaching your destination in one piece. A successful transaction, much like a successful flight, will leave the passenger with the thought, “Well that was easy!”

An experienced realtor, like those at M3 Realty, know how to maneuver through the toughest situations and maintain control throughout your “flight”. Now fasten your seatbelt, relax and enjoy your trip!

The Buyer:

Does not tell the truth on loan application

Has recent late payments on credit report

Finds out about additional debt after loan application

Borrower loses job

Coborrower loses job

Income verification lower than what was stated on loan application

Overtime income not allowed by underwriter for qualifying

Applicant makes large purchase on credit before closing

Illness, injury, divorce or another financial setback during escrow

Lacks motivation

Gift donor changes mind

Cannot locate divorce decree

Cannot locate petition or discharge of bankruptcy

Cannot locate tax returns

Cannot locate bank statements

Difficulty in obtaining verification of rent

Interest rate increases and borrower no longer qualifies

Loan program changes with higher rates, points and fees

Child support not disclosed on application

Bankruptcy within the last two years

Mortgage payment is double the previous housing payment

Borrower / coborrower does not have steady two-year employment history